The wheat market in Australia holds breath as it awaits key pricing factors to emerge

With harvest hitting full swing the Australian wheat market has been static over recent weeks. The market still appears to be cagey and waiting to see the tonnages that roll in from moisture and frost stressed southern crops. Normal harvest pressure that sees prices dip as the headers roll is yet to kick in with cash prices ranging from $340 a tonne for Australian Prime Hard (APH) to values closer to $310/t for APW and ASW wheat, with little change in recent weeks. There are some signs a slight premium will emerge in the south-east due to lower supplies, but this is yet to emerge a full-blown trend as yet. Grain market analyst at AgScientia, Lloyd George, said the market was listless and waiting for direction on both the national and international stage. "The world market has been quiet, what we have noticed here in Australia is how much quieter China has been in placing orders, last year we were working frantically to satisfy strong demand, this year it is much more circumspect," ...